SafePal launches Telegram crypto wallet with Visa card support
SafePal’s new Mini Wallet App will enable 950 million Telegram users to create individually owned and compliant crypto-friendly Swiss bank accounts, the firm said. Go to Source
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Swiss regulator FINMA targets stablecoin issuers in new proposal
As stablecoins continue to gain traction globally, regulatory initiatives such as FINMA’s guidance are likely to influence policies in other jurisdictions. Go to Source
Swiss regulator forces crypto-friendly FlowBank into bankruptcy
The Swiss-based bank had ties to the TrueUSD stablecoin issuer, Techteryx, crypto asset manager CoinShares and reportedly Binance. Go to Source
Systemic Swiss Banks Not Ready for Crisis, Regulator Says
Switzerland’s financial regulator is not satisfied with the emergency plans of two of the Alpine nation’s five major banks. The assessment refers to a period prior to the rescue of Credit Suisse by UBS when the authority viewed the troubled giant’s preparedness in positive terms. 2 Swiss Banks Unable to Implement Recovery Plans, Finma Finds … Read more
$1.12B in Bitcoin options expire this week, and bulls appear to be at a disadvantage
Commodities rallied as the U.S. Treasury struggled with the banking crisis, but Bitcoin bulls also overplayed their hand in this week’s options expiry. Go to Source Powered by WPeMatico
Switzerland preparing emergency measures for UBS’ takeover of Credit Suisse: Report
The emergency preparation will allow the takeover to proceed without the usual “six-week consultation period” with shareholders, according to people familiar with the situation. Go to Source Powered by WPeMatico
On the Brink of a New Trend: Credit Suisse Receives 50 Billion Swiss Franc Bailout From Swiss National Bank
Credit Suisse has experienced a loss of confidence in the financial institution’s health following a significant drop in its shares’ value this week. Over the past five days, Credit Suisse shares have fallen 24.34% against the U.S. dollar, eroding trust amid fears about the global banking system. On Wednesday at around 9 p.m. (ET), Credit … Read more
Swiss Crypto Company Taurus Raises $65 Million From Credit Suisse, Other Banks
Digital asset infrastructure provider Taurus has secured millions of U.S. dollars in investment from major banking institutions. The successful funding round comes in the aftermath of negative developments in the crypto space, indicating that large players from traditional finance remain engaged with the market despite its woes. Credit Suisse, Deutsche Bank Invest in Digital Asset … Read more
Swiss Financial Watchdog Releases Revised AML Ordinance, Clarifies Crypto Requirements
The Swiss financial regulator has published its updated anti-money laundering (AML) ordinance, noting it’s extending the coverage to include blockchain trading platforms. It also clarified certain reporting and identification requirements that apply to crypto transactions. Financial Authorities Adjust Swiss Anti-Money Laundering Rules Concerning Crypto Transfers Following consultations that started earlier this year, the Swiss Financial … Read more
Swiss Regulator Urges Financial Watchdogs to Protect Crypto Investors
Crypto trading is increasingly similar to the U.S. stock market of the late 1920s, the head of the Swiss financial watchdog has remarked. The high-ranking official believes that regulatory agencies around the world should do more to ensure investor protection. Swiss Financial Watchdog Executive Calls for More Regulations for ‘Abusive’ Crypto Market Governments are still … Read more
